CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 |
---|---|---|
Current Assets: | ||
Cash and cash equivalents | $ 3,028,362 | $ 5,961,760 |
Trade receivables, net of allowance of $26,000 and $26,000, respectively | 561,254 | 49,250 |
Inventories, net | 637,620 | 592,172 |
Prepaid and other current assets | 659,538 | 247,736 |
Total current assets | 4,886,774 | 6,850,918 |
Property, Plant and Equipment: | 22,483,386 | 22,425,935 |
Accumulated depreciation | (22,158,146) | (22,146,273) |
Property, Plant and Equipment, net | 325,240 | 279,662 |
Other Assets: | ||
Operating lease right-of-use assets, net | 4,816,017 | 4,984,688 |
Patents, net of accumulated amortization of $139,842 and $135,050 respectively | 82,111 | 86,595 |
Equity method investment | 97,665 | 21,205 |
Other non-current assets | 625,000 | 625,000 |
Total Assets | 10,832,807 | 12,848,068 |
Current Liabilities: | ||
Accounts payable | 600,600 | 642,165 |
Related party payables | 45,000 | 45,000 |
Accrued expenses | 1,395,350 | 991,534 |
Accrued interest | 490,778 | 475,671 |
Notes payable | 250,000 | 250,000 |
Current portion of operating lease liability | 665,585 | 646,742 |
Total current liabilities | 3,447,313 | 3,051,112 |
Long-Term Liabilities: | ||
Non-current operating lease liabilities | 4,356,168 | 4,532,490 |
Non-current convertible notes, net | 946,053 | 8,076,847 |
Accrued warranty liability | 21,225 | 21,225 |
Total liabilities | 8,770,759 | 15,681,674 |
Stockholders’ Equity (Deficit): | ||
Series A preferred stock, $.0001 par value; 750,000 shares authorized; 48,100 and 48,100 shares issued and outstanding, respectively ($813,558 and $801,533 Liquidation Preference, respectively) | 5 | 5 |
Common stock, $0.0001 par value, 500,000,000 authorized; 30,586,804 and 4,786,804 shares issued and outstanding, respectively | 3,059 | 479 |
Additional paid in capital | 434,146,118 | 424,948,698 |
Accumulated deficit | (432,080,037) | (427,782,788) |
Accumulated other comprehensive loss | (7,097) | |
Total stockholders’ equity (deficit) | 2,062,048 | (2,833,606) |
Total Liabilities and Stockholders’ Equity (Deficit) | $ 10,832,807 | $ 12,848,068 |